Analysts say that the price of Bitcoin follows the historical breaking model of gold. If this model occurs, the price of Bitcoin is possible to increase to a level of 250 thousand dollars or higher. However, the target of the rise is waiting for now due to a ‘decreasing peer -expanding kama’ model with a lock resistance of $ 84.1 thousand.
Bitcoin reflects the bull formation of gold in the 1970s!
Gold suffered a major break in the mid -1970s after years of price consolidations. Thus, at that time, it resulted in enlarged growth. Kriptokoin.comAs you have followed, an interesting way, Bitcoin passed a similar accumulation phase, and then a consolidation period came. More importantly, Bitcoin and Gold Graphic Analysis show the price of Bitcoin at the exact position of the explosive rally of gold or the bull run. In addition, the main resistance levels have been tested many times and signaled an upcoming break.
It should not be forgotten that increasing corporate adoption and US strategic Bitcoin reserve formations show a similar flow of demand before the historical rise. As a result, investors are waiting for an increasing rally with a high level of 250 thousand dollars.
If the orbit of gold is monitored, the BTC can go beyond $ 100 thousand as it has previously set an ATH in $ 109 thousand. A expanded Bitcoin Taurus run can push it towards $ 250,000 in the coming years. Interestingly, many analysts and trade tools have increased the reliability of this Bitcoin and Gold model by sharing similar Bitcoin price forecasts.
BTC creates ‘decreasing widening kama’ model: What’s next?
Although long -term orbit for Bitcoin remains optimistic, BTC stands at a difficult point. Crypto currency is currently trading for $ 83.2 thousand and is 24 %away from AC. Interestingly, the BTC price graph had previously created a ‘Taurus pennant’ model, but now it turned into a decreasing expanding Takoza ‘in a 1 -hour time period.
As a result, this shows the possibility of breaking if it breaks down and only breaks the resistance of $ 84.1 thousand. The lock resistance can trigger a rally of a breaking rally. In addition, key support is also at 81 thousand dollars, so it is very important to protect this level. Crypto analyst Captain Faibik said, “The bull pennant turned into a 1 -hour TF graph. The bulls need to exceed 84.1 thousand resistance to confirm the breaking. I’m still rising. ” he says
Will Bitcoin reach a six -digit figure with the bull formation of gold?
The BTC price movement resembles gold’s movements in the 1970s. In this model, gold lived one of the largest rally. For Bitcoin, this formation will probably result in a break. However, this estimate is based on these latest statistics. For this reason, BTC’s orbit may change with the upcoming macroeconomic events such as US FED decision and market performance.
Therefore, investors should carefully analyze the BTC’s orbit. In particular, they should pay attention to the ‘declining Kama’ formation that should exceed $ 84.1 thousand to confirm the Taurus trend.
